The most notable thing in the major currencies space since Friday is that USD/JPY has tripped back below the 150.00 mark. That is keeping the dollar in a more tentative spot once more as we continue to see some consolidation against the likes of the euro and pound as well.
The ranges for today are still leaving a lot to be desired with the aussie seeing a slight gain only after better retail sales data here. The overall risk mood is also slightly better with S&P 500 futures pointing up by 0.4%. This comes as the Israel-Hamas conflict is still playing out but perhaps not as fearful as before the weekend.
In any case, USD/JPY will remain the one to watch with the BOJ policy decision coming up tomorrow. If it holds below the 150.00 mark, that will be a welcome development for the Japanese central bank. And that in turn could see more exhaustion from dollar bulls going into month-end.